NTPC around the money
| Strike | Call OI | Call LTP | Put LTP | Put OI |
|---|---|---|---|---|
| 310 | 1,23,000 | 22.75 | 0.4 | 7,45,500 |
| 315 | 70,500 | 20.2 | 0.8 | 6,87,000 |
| 320 | 10,81,500 | 13.6 | 1.4 | 16,21,500 |
| 325 | 31,83,000 | 9.5 | 2.35 | 14,64,000 |
| 330 | 22,20,000 | 6.4 | 4.35 | 20,95,500 |
| 335 ATM | 33,81,000 | 4 | 6.6 | 7,66,500 |
| 340 | 92,89,500 | 2.35 | 9.95 | 27,70,500 |
| 345 | 60,01,500 | 1.45 | 12.9 | 3,34,500 |
| 350 | 39,49,500 | 0.9 | 18.8 | 7,98,000 |
| 355 | 6,49,500 | 0.6 | 25 | 1,39,500 |
| 360 | 31,80,000 | 0.45 | 27 | 4,75,500 |
Where NTPC open interest sits
The heaviest call open interest is at the 340 strike, holding 92,89,500 contracts — 24.3% of all NTPC call open interest on the board, 2.26% above the spot of 333. Call open interest concentrated above price is commonly read as resistance, on the reasoning that writers there are defending the level. It is a crowding observation, not a rule — the level holds until that open interest unwinds.
On the put side the weight is at 340 with 27,70,500 contracts, 16.8% of NTPC put open interest, 2.26% above spot. That strike is in the money, so it is not acting as support — price is already beneath it. Heavy in-the-money put open interest more often reflects protection bought before the move than a level being defended now.
New to this? Read the Open Interest guide — how to read it, with worked examples.
What NTPC's PCR is saying
NTPC is carrying 1,64,46,000 contracts of put open interest against 3,83,04,000 of call, a put-call ratio of 0.43 — call-heavy positioning. PCR has no universally good value; it is read against its own recent range, and the direction it is moving carries more than the level.
It opened the session at 0.43 and has held to 0.43 — a move of 0.00. That is effectively flat: positioning has not changed sides today.
New to this? Read the PCR guide — how to read it, with worked examples.
NTPC against its max pain
Max pain for NTPC computes to 335, with spot at 333 — 0.75% below it. That strike is where the total value of all open contracts expiring would be lowest. It is arithmetic on the current open interest distribution, not a forecast, and the distribution keeps changing.
The curve is defined around it: the nearest strike either side costs writers 2.1% more than 335. A trough that distinct is a stronger reference than a flat basin, though it still describes positioning rather than predicting settlement.
There are 21 sessions to expiry. This far out the figure moves as positions roll, and it is least informative early in a series — worth watching for direction of travel rather than as a target.
New to this? Read the Max Pain guide — how to read it, with worked examples.
What changed in NTPC today
NTPC is not carrying enough open interest this session for a meaningful intraday flow read. The table above is the full picture the exchange feed gives for this underlying — on a thin book, a single trade can move a strike to the top of the list, so no level is called out here.
New to this? Read the OI Change guide — how to read it, with worked examples.
The move priced into NTPC
The at-the-money straddle on NTPC costs 10.60 — 4.00 for the call and 6.60 for the put at the 335 strike. That sum is what the market charges to be covered in either direction, which makes it the move being priced in: about 3.19% of spot, or roughly 324 to 346 by expiry on a breakeven basis.
The straddle has moved 0.0% since the open. That is close to flat, so today's decay and any volatility move have roughly offset.
Implied volatility at the money is 16.0% on the call and 16.6% on the put. The put carries 0.6 points more, the usual shape when downside protection is bid up relative to upside.
New to this? Read the ATM Premium guide — how to read it, with worked examples.
NTPC — frequently asked questions
What is the NTPC ATM strike today?
The at-the-money strike for NTPC is 335, taken from a spot reading of 332.5 on the 29 Sep 2026 expiry. The ATM strike rolls as spot moves, so it is re-selected through the session rather than fixed at the open. It carries the highest time value of any strike, which is why decay is felt most sharply there.
Which NTPC strike has the highest open interest?
The heaviest call open interest sits at 340 with 92,89,500 contracts, and the heaviest put open interest at 340 with 27,70,500 contracts. Those two strikes are commonly read as the working range — calls above spot as resistance, puts below as support. They are crowding observations, not guaranteed barriers.
What is open interest in options?
Open interest is the total number of option contracts in a strike that are still open and not yet squared off or settled. It counts positions, not trades. Rising open interest means fresh contracts are being created and new money is entering that strike; falling open interest means existing positions are being closed out.
Is this data live?
The table on this page is baked into the HTML and refreshed through the trading session, so it is readable without JavaScript and carries an as-of stamp. The interactive terminal above it streams live from the exchange feed and updates continuously while the market is open.
Do I need an account to use this?
No account or login is needed. Every tool on this site runs in your browser and is free to use. Nothing you select is stored on a server, and no order can be placed from here — Sahi is an analysis terminal, not a trading or execution platform.
NTPC on the live tools
This article is the read. These pages are the terminal, each opening on NTPC.